Chinese Communist Party Exec Wants State Monopoly on Digital Currency
Cointelegraph
Published Feb 27, 2020 04:13PM ET
Updated Feb 27, 2020 06:02PM ET
Chinese Communist Party Exec Wants State Monopoly on Digital Currency
Chen Weigang, former Vice President of China Insurance Regulatory Commission of the Communist Party, sat down with Yiben blockchain media on Feb 27 to talk about ICO regulations and digital currency trading in China. He told the media that a central bank digital currency (CBDC) is an important strategic plan for the Chinese RMB to gain an upper hand in international economic development.
During the interview, Chen was asked to comment on the ongoing ICO Ponzi schemes in China. Chen believed that ICOs and cryptocurrency trading needed to be banned completely in the future. He added that:
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Written By: Cointelegraph
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